Watsco Inc (WSO) Shares Sold by DAVENPORT & Co LLC
DAVENPORT & Co LLC lessened its holdings in Watsco Inc (NYSE:WSO) by 0.3% during the fourth quarter, Holdings Channel reports. The institutional investor owned 643,753 shares of the construction company’s stock after selling 1,841 shares during the quarter. Watsco comprises approximately 1.3% of DAVENPORT & Co LLC’s holdings, making the stock its 13th biggest position. DAVENPORT & Co LLC’s holdings in Watsco were worth $109,464,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. boosted its stake in shares of Watsco by 1.4% in the 2nd quarter. Vanguard Group Inc. now owns 2,489,042 shares of the construction company’s stock worth $383,810,000 after buying an additional 34,943 shares during the last quarter. FMR LLC lifted its stake in Watsco by 10.7% in the second quarter. FMR LLC now owns 1,023,513 shares of the construction company’s stock valued at $157,826,000 after purchasing an additional 99,041 shares during the last quarter. State Street Corp lifted its stake in Watsco by 6.8% in the second quarter. State Street Corp now owns 799,293 shares of the construction company’s stock valued at $123,247,000 after purchasing an additional 50,751 shares during the last quarter. Wells Fargo & Company MN lifted its stake in Watsco by 1.8% in the third quarter. Wells Fargo & Company MN now owns 765,046 shares of the construction company’s stock valued at $123,227,000 after purchasing an additional 13,404 shares during the last quarter. Finally, Baillie Gifford & Co. lifted its stake in Watsco by 0.8% in the third quarter. Baillie Gifford & Co. now owns 701,295 shares of the construction company’s stock valued at $112,958,000 after purchasing an additional 5,761 shares during the last quarter. Hedge funds and other institutional investors own 82.40% of the company’s stock.
In other news, SVP Barry S. Logan sold 3,246 shares of the company’s stock in a transaction on Wednesday, November 22nd. The shares were sold at an average price of $164.30, for a total value of $533,317.80. Following the transaction, the senior vice president now owns 15,800 shares of the company’s stock, valued at $2,595,940. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Corporate insiders own 13.93% of the company’s stock.
Several equities analysts recently commented on the company. Morgan Stanley upped their price objective on Watsco from $141.00 to $151.00 and gave the company an “underweight” rating in a research note on Monday, September 25th. KeyCorp reissued a “buy” rating on shares of Watsco in a report on Friday, November 17th. Finally, Zacks Investment Research cut shares of Watsco from a “buy” rating to a “hold” rating in a report on Thursday, October 5th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $160.40.
Watsco Inc (WSO) traded down $0.89 during trading on Wednesday, hitting $173.35. 188,700 shares of the stock traded hands, compared to its average volume of 178,880. The company has a market capitalization of $6,227.51, a PE ratio of 32.04 and a beta of 0.83. Watsco Inc has a 52-week low of $134.08 and a 52-week high of $176.57. The company has a current ratio of 3.13, a quick ratio of 1.42 and a debt-to-equity ratio of 0.21.
Watsco (NYSE:WSO) last released its quarterly earnings results on Wednesday, October 25th. The construction company reported $1.82 earnings per share for the quarter, missing the consensus estimate of $1.95 by ($0.13). The firm had revenue of $1.23 billion during the quarter, compared to the consensus estimate of $1.26 billion. Watsco had a return on equity of 15.00% and a net margin of 4.46%. The company’s revenue for the quarter was down .9% compared to the same quarter last year. During the same period in the previous year, the company posted $1.78 EPS. equities research analysts forecast that Watsco Inc will post 5.59 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 31st. Stockholders of record on Tuesday, January 16th will be issued a $1.25 dividend. The ex-dividend date of this dividend is Friday, January 12th. This represents a $5.00 annualized dividend and a dividend yield of 2.88%. Watsco’s payout ratio is currently 92.42%.
Watsco Company Profile
Watsco, Inc is a distributor of air conditioning, heating and refrigeration equipment, and related parts and supplies (HVAC/R) in the HVAC/R distribution industry in North America. As of December 31, 2016, the Company sold a range of non-equipment products, representing more than 300,000 stock keeping units, including parts, ductwork, air movement products, insulation, tools, installation supplies, thermostats and air quality products.
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